Barclays is reducing rates on a selection of products in its residential purchase range, effective from tomorrow, Wednesday 8th May.
Two-year fixed rates at 85% LTV are reducing from 5.23% to 4.99% with an £899 product fee, and from 5.57% to 5.18% fee-free.
Five-year fixed rates at 85% LTV are decreasing from 4.92% to 4.78% with an £899 fee and from 5.13% to 4.95% fee-free.
The latest changes follow three of the ‘Big 6’ mortgage lenders increasing rates across their mortgage ranges last week.
Separate research from Barclays shows that spending on mortgage payments increased by 3.6% year-on-year in April, ending the three-month slowdown seen since January.
